Jupiter (JUP) Price Outlook: Breakout From Descending Wedge in Play

Key Takeaways

• Descending wedge breakout signals a possible bullish reversal.
• The momentum indicator shows mid-level momentum buildup.
• Wave (v) is developing within the breakout structure.
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JUP has recently completed a prolonged correction within a descending wedge and shows early signs of a bullish reversal.

Analyzing the charts through Elliott Wave and Fibonacci tools provides a compelling picture of where the price may be heading next.

A potential impulse wave is developing, hinting at a breakout from the broader corrective structure.

JUP Price Analysis

The 4-hour chart of JUP reveals a classic descending wedge structure forming since the January high of $1.28. This concluded at the swing low of $0.429 (0.786 Fibonacci retracement).

The broader price action is best interpreted as a W-X-Y complex correction, where wave Y completed the final leg of the wedge on March 11.

From there, JUP initiated a new upward trajectory, supported by bullish divergence on the Relative Strength Index (RSI), which bounced from the 30 zones.

The price is currently retesting the lower resistance zone near $0.57, with the 0.618 retracement overhead at $0.7351 and the 0.5 retracement at $0.9496.

These levels mark potential medium-term targets as JUP attempts a breakout from the wedge’s upper boundary.

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The impulsive rebound from the March lows is likely the beginning of a new motive wave, although further confirmation is needed.

Given that the correction was deep and prolonged, the odds favor at least a relief rally toward the mid-Fibonacci levels before any renewed bearish pressure.

RSI remains neutral to bullish, now oscillating around the 50–60 range, offering further confirmation of early trend reversal.

JUP Price Prediction

The 1-hour chart sharpens the intraday outlook with a clear five-wave impulsive count emerging from the March 11 low.

The internal count indicates that JUP is currently completing wave (iv) of this structure, with wave (v) poised for launch toward the next Fibonacci confluence around $0.7351.

Wave (iii) peaked near $0.60 before a shallow pullback formed wave (iv), suggesting internal strength and bullish control.

The RSI gradually cools from slightly overbought conditions and shows no divergence, implying wave (v) may extend as high as $0.70–$0.74 without significant resistance.

This aligns closely with the 0.618 retracement from the broader correction and would complete the impulse pattern from the local low.

Additionally, if wave (v) terminates near this region, we can expect a corrective ABC pullback, potentially retesting $0.51 or $0.48.

However, a strong move above $0.7351 could shift the outlook into a more aggressive, impulsive scenario. This would extend the rally toward the $0.91–$0.95 zone (0.5 retracement on the higher time frame).

This short-term bullish setup remains valid if JUP holds above $0.50, as there is also a count for a bearish scenario.

A drop below $0.429 would invalidate the wave structure and indicate continued bearish pressure.

In that case, it could mean that the recovery from March 11 is the wave (iv) in a larger downtrend from mid-February, leading to a final lower low.

Momentum, structure, and RSI alignment favor one more upward thrust before reassessing broader market conditions.

Key Levels to Watch

• Immediate Resistance: $0.60 (wave iii high).
• Key Resistance: $0.7351 (0.618 Fibonacci retracement).
• Major Resistance: $0.9496 (0.5 Fibonacci retracement).
• Immediate Support: $0.510 (local pivot zone).
• Critical Support: $0.429 (0.786 Fibonacci retracement).
• Short-Term Target for Wave (v): $0.70–$0.74 range.
• Invalidation Zone: Below $0.429 (break of bullish structure).